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Tuesday, March 29, 2016

Samsung Pay launched in China Tuesday March 29,2016

Samsung has officially launched its mobile wallet service in China, in co-operation with local vendor UnionPay.

Instead of using cards, the service allows shoppers to use their smartphones to pay for in-store purchases.

Last month, Apple launched its own Apple Pay system in China, also in partnership with UnionPay.
China's smartphone market, the largest in the world, presents a huge business opportunity for mobile-payment systems.

Samsung Pay and Apple Pay will now compete with Alibaba's Alipay, which currently dominates China's electronic payments market.

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